Mumbai or Maximum City, as it is fondly called, is witnessing rapid changes in its cityscape and of course, its realty market. Demand for flats in Mumbai is no longer restricted to mainstream city locations alone. South and Central Mumbai are way too unaffordable for most buyers and professionals and hence a shift in residential demand to several peripheral locations. Buying a flat in Mumbai is almost impossible in most city locations owing to limited supply, spiraling capital and land values and impossibly high square foot rates. According to India property reports, aspiring property buyers are now choosing to invest in zones like Thane which are performing well in comparison to many city locations. Thane is one of the hotbeds for residential growth at present and several property sites India have billed it to be the next big real estate hotspot after Navi Mumbai. Thane is no longer the affordable and poorly equipped cousin of India’s financial capital. Thane is today home to several leading hospitals, educational institutions, shopping centres and other social amenities. Infrastructure has grown unprecedentedly in Thane while several premium townships and projects have been developed here by leading developers. Thane is now a hotbed for luxury housing projects as well, something that was hard to imagine in the recent past. According to experts, the Kalyan-Thane belt will always remain viable for investors and end users alike. This is because of the untapped potential in these areas and comparatively lower rates in comparison to Mumbai.
Growth of Mumbai real estate in this belt is primarily due to better infrastructure and smoother connectivity to central city locations. Several landmark projects with best in class amenities are being developed in these locations in tandem with affordable and mid range housing projects. Dombivali is another area which is highly favored by property buyers these days while Ambernath is also a hot favorite. Opening up of northeastern suburbs of Mumbai due to infrastructural progress has boosted demand in these areas. Panvel is witnessing huge development in recent times while Badlapur is not doing too badly either. The Vasai-Virar-Palghar belt should also be a major growth node in Mumbai’s realty market in the future.
Growth of Mumbai real estate in this belt is primarily due to better infrastructure and smoother connectivity to central city locations. Several landmark projects with best in class amenities are being developed in these locations in tandem with affordable and mid range housing projects. Dombivali is another area which is highly favored by property buyers these days while Ambernath is also a hot favorite. Opening up of northeastern suburbs of Mumbai due to infrastructural progress has boosted demand in these areas. Panvel is witnessing huge development in recent times while Badlapur is not doing too badly either. The Vasai-Virar-Palghar belt should also be a major growth node in Mumbai’s realty market in the future.
